Cooper Financial Group Has $926,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Cooper Financial Group increased its position in QUALCOMM by 41.6% in the first quarter, owning 6,031 shares valued at $926,000.
• QUALCOMM's stock currently holds a consensus rating of "Hold" with a price target of $181.10 according to MarketBeat data.
• The company recently reported earnings of $2.77 per share, exceeding expectations, and declared a quarterly dividend of $0.89 per share to be paid on September 25th.

Cooper Financial Group increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,031 shares of the wireless technology company's stock after buying an additional 1,772 shares during the period. Cooper Financial Group's holdings in QUALCOMM were worth $926,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. Eagle Strategies LLC raised its position in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after buying an additional 59 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of QUALCOMM by 2.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after buying an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. raised its position in shares of QUALCOMM by 5.1% during the 1st quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock worth $217,000 after buying an additional 69 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its position in shares of QUALCOMM by 0.3% during the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after buying an additional 69 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 3.9%

QCOM traded up $5.76 on Tuesday, reaching $153.73. 9,303,080 shares of the company traded hands, compared to its average volume of 8,639,778. The stock's 50 day moving average price is $155.20 and its 200-day moving average price is $153.89. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The company has a market cap of $165.87 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is currently 34.33%.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at $6,398,956.70. The trade was a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,352,355 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wells Fargo & Company dropped their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Susquehanna dropped their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average target price of $181.10.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.